Industry Insights

The global surgical imaging market size was valued at USD 4.6 billion in 2017 and it is anticipated to expand at a CAGR of 5.2% over the forecast period. Growing geriatric population and awareness regarding radiography procedures are the key factors responsible for the market growth. In addition, developments, in terms of technology, are likely to drive the market over the next few years.

On the other hand, stringent approval procedures and high costs associated with these devices may have a negative impact on the market expansion. However, rising adoption of minimally invasive surgical procedures will boost the demand for these systems, thereby augmenting the market development. Furthermore, availability of advanced techniques is likely to fuel the demand in the coming years.

The governments in developed regions have well established health insurance frameworks. U.S. has a high healthcare coverage for more than 300 million of its population. A strong insurance framework puts less financial burden on the people to undergo surgeries and this promotes the adaption of innovative technologies, such as robotic surgeries and surgical imaging.

These factors are also projected to impel market growth in the years to come. Governments in developing economies, such as Brazil and Mexico, are focusing more on providing cost-effective and advanced surgical imaging solutions for better healthcare solutions. However, high costs associated with surgical imaging equipment may hinder their adoption.

Device Insights

On the basis of device, the market has been divided into endoscopy, laparoscopy, angiography, C-arms, and surgical navigation systems. Followed by surgical navigation systems, the C-arms segment accounted for the largest share of the global market in 2017. C-arms is likely to maintain its dominance and is also expected to be the fastest-growing device segment over the forecast period.

Modality Insights

On the basis of modality, the market is categorized into MRI, x-ray, computed tomography, and optical and nuclear imaging. X-ray is expected to be the dominant segment on account of increasing prevalence of chronic disorders and demand for these procedures for better disease treatment. X-ray devices are further segmented into stationary, handheld, and mobile devices. In addition, high prevalence of Cardiovascular Diseases (CVDs) and dental problems is boosting the demand for these devices. Growing geriatric population and rising need for bedside imaging are likely to boost the demand for mobile x-ray tools.

Application Insights

On the basis of application, the market is segregated into cardiovascular, neurosurgeries, ophthalmology, thoracic, urologic, and orthopedic and trauma. The orthopedic and trauma segment accounted for the largest market share in 2017 and is anticipated to register the highest CAGR during the estimated time period. Fiber-optic cameras are being used in minimally invasive procedures to reduce complexity and cost of intrathoracic procedures.

Treatment of almost every intrathoracic condition can be performed effectively by a video-assisted approach. Video-assisted thoracoscopic and inflexible bronchoscopic medical procedures help reduce postoperative pain and enable faster recovery process. Minimally invasive neurosurgeries use little, adaptable, lit cylinders called endoscopes for imaging different parts of skull base or spinal cord. Endoscopes fill in as little magnifying lens, amplifying the basic anatomical structures, thereby enabling surgeons to see the infected zones requiring a treatment.

Regional Insights

North America led the market in 2017 and accounted for the largest revenue share owing to high adoption of advanced technology and sophisticated healthcare infrastructure. However, Asia Pacific is expected to witness the fastest CAGR over the forecast period, mainly due to various incentive offers by the local governments and low cost of clinical trials in the region. The Nordic countries and Germany continue to invest in the field of surgical imaging to bring about change in patient care and treatment. The eastern part of Europe mostly depends on funding from the European Union to carry out their research activities.

Surgical Imaging Market Share Insights

Some of the key companies in the market include Koninklijke Philips N.V.; GE Healthcare, Inc.; Hitachi Ltd.; Shimadzu Corp.; Fujifilm Medical Systems; Siemens Healthcare; Canon Medical Systems Corporation; Carestream Health; Hologic, Inc.; and BioSign. Most of these major firms are incorporating various strategies to increase their market reach. For instance, in June 2017, Philips acquired Electrical Geodesics, Inc. to launch a portfolio with integrated neurological imaging, therapy, and mapping guidance.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2026

Market representation

Revenue in USD Million and CAGR from 2018 to 2026

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East and Africa

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, Grand View Research has segmented the global surgical imaging market report on the basis of device, modality, application, and region: